In the wake of Michele Bachmann announcing that she won't run for a fifth term representing Minnesota's Sixth District, her expected 2014 challenger, Jim Graves, has also reportedly pulled out of the race.

The story was broken by MinnPost's Eric Black, who reports that Graves "is dropping out of politics to concentrate on his family and his business."

Graves told MinnPost that "with Michele Bachmann now stepping down, I've been talking to my friends and family and frankly, the feeling is, 'Mission Accomplished.'"

He said that all along, he was motivated by a desire to oust Bachmann, not for the sake of holding office in its own right. Graves, of course, was narrowly defeated by Bachmann during their matchup last November.

"We're very happy she dropped out. The country can do better," Graves said, adding that he's "not a politician; I'm a business guy."

"Now there are zero things on my agenda that I feel a need to do in public life," he said.

Well, expectations for next year's Sixth District contest were sure smashed to smithereens this week, weren't they?

:::: UPDATE ::::

Graves published a memo shedding more light on his decision to pull out of politics. Here it is:

-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at arupar@citypages.com.